The Conference Board, New York, said its Consumer Confidence Index fell in January following an upwardly revised increase in December.
Category: News and Trends
Home Price Report Roundup: More Rebalancing
Three reports show a continuing trend of slowly receding home prices, with some markets coming back to earth faster than others. Here’s a summary of those reports:
Dealmaker: Merchants Capital Secures $77M for St. Paul Affordable Housing Project
Merchants Capital arranged the debt financing for Soul totaling more than $77 million. The firm secured a $33 million Merchants Bank of Indiana construction loan, a $16.6 million MBI equity bridge loan and a $27.45 million Freddie Mac Tax-Exempt Loan to comprise the total $77 million. RBC Capital Markets served as the equity provider for the project.
Mark P. Dangelo: In the ‘Year of the Rabbit,’ Data is a Slow Tortoise (Part 2)
Digital and industry reimaging has provided a new, integrated product solution defined by equal parts of data sciences, technologies, and business experience. Data-as-a-Product (DaaP) represents a process and organizational mindset-shift for many within financial and mortgage services, yet when adopted, the new revenue generated and efficiencies gained, illustrates the next-gen business cycle.
Erin Palmer, Chris Bennett: How to Fire Up a Lock-and-Shop Program Without Getting Burned
One idea that could help lenders stand out in this market is a rate-lock program to give qualified borrowers more time to shop for their home. And, by design, incentivize them not to also shop elsewhere for a different rate and so that they will close with the original lender.
People in the News Feb. 1, 2023: MBA Renames Lowrie-Woodward Distinguished Service Award
The Mortgage Bankers last week renamed its highest award to honor Regina Lowrie, CMB, the first female MBA Chair, who passed away last month.
Industry Briefs Feb. 1, 2023: Revolution Mortgage Partners with Silverwork Solutions
Silverwork Solutions, Chicago, a developer of digital workforce BOTs, announced a partnership with Revolution Mortgage, Columbus, Ohio.
Rob Chrane of Down Payment Resource: The Time is Right for Homeowner Assistance
The current groundswell of interest in down payment assistance is a silver lining for lenders amid stormy market conditions, creating an opportunity to answer the GSEs’ calls for greater housing equity while building revenue and lasting customer relationships in a tough mortgage market.
Dean Kelker of SingleSource Property Solutions: Appraisal Modernization and Obstacles to the Profession
Dean Kelker is senior vice president and chief risk officer with SingleSource Property Solutions, Canonsburg, Pa., responsible for managing regulatory, compliance and financial risks. He has more than 30 years of real estate finance experience managing collateral, credit and compliance risks for lenders, credit risks for a mortgage insurer and mortgage default investigations for a due diligence firm.
Call for Speakers: MBA Secondary & Capital Markets Conference & Expo; Deadline Feb. 2
Speaking opportunities for breakout sessions are now being accepted for MBA’s Secondary & Capital Markets Conference & Expo 2023, taking place May 21–24 at the Marriott Marquis in Times Square.